Personal Loans
Personal loans and lines of credit that don't require collateral (like a home) are sometimes just what you need to continue on your financial journey. Start by knowing what you will use your personal bank loan for and then find one that has an interest rate you can afford. Check out the information below or see if one of our Personal Credit Cards is a better fit.
FAQs
To help you learn more about personal loans and lines of credit, we've answered some of the frequently asked questions below.
Both allow you to borrow money without collateral, unlike a Home Equity that would use your home as collateral. They can be used for home improvements, debt consolidation, major expenses, emergencies, or anything else you may need. With a Personal Loan, you get the loan funds in one lump sum and pay it back in fixed monthly installments. The Personal Line of Credit works similarly to a credit card. You can borrow or draw funds as needed for the term of the line, and you’ll make a monthly payment on what you have drawn.
Rates vary from bank to bank. First Commonwealth Bank offers competitive fixed and variable rates. Visit our rates page, visit your local branch, or give us a call at 1-844-711-2265 (BANK) to learn more.
Lenders look at your credit score, a steady income, good employment history, and a reasonable debt-to-income ratio, which shows you can afford to repay the loan. Every lender is different, so it’s best to talk to us about your situation and options.
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1 Overdraft transfer services are limited to the available balance in the linked account. A transfer fee may apply. Add Overdraft Protection by calling 800-711-BANK (2265) or visiting a community office near you.